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Here, you are a small company making speciality oil field chemicals and services selling directly to both Oil majors and their major contractors. You are required to provide the type of contractual arrangements would you ideally prefer and why and explain how you achieve this transition.
Question 1:The following question concerns the roles of the various organisations involved in the oil & gas industry.
You are a small company making speciality oil field chemicals and services selling directly to both Oil majors (like Shell, BP, Exxon, etc) and their major contractors (like KCA Deutag, Halliburton, etc ). Your product is seen as ‘routine’ and you have many competitors. At the moment all your contracts are lump sum. You want to expand your business (volume, stability and geography) and think that introducing other contractual arrangements and relationships with your customers might help achieve this.
Question 2: The following questions concerns petroleum economics and taxation regimes, legal arrangements and contractual relationships.
Question 3: The following question concerns the risks faced by the industry and means of identifying and managing them.
An oil & gas company signs a reimbursable contract with an EPC contractor, requiring the contractor to engineer, procure, install and commission an oil production platform. The oil & gas company has a target price for the project of $250 million. What risks might cause the final cost to be more or less than this target price? (15%)
Question 4: The following question concerns future oil and gas sources, social responsibility and climate change issues.
The BP Statistical Review shows that, despite growing annual consumption of oil and gas, the remaining recoverable reserves have consistently grown each year. Explain the concept of the widely used terms of “carbon budget” and “un-burnable carbon”, and discuss the effect that these concepts will have on the remaining recoverable reserves. (15%)
Please use 12pt Arial font.
Your assignment submission must include
The Module reference number (BSM2519).
The Module title (Oil and Gas Management).
Your name and student number.
The word count of the main body of the finished report.
The Turnitin “Similarity Score”.